---
name: managing-finances
description: Use this skill for tracking business finances, expenses, revenue, tax preparation, or financial planning for Support Forge LLC. Helps with bookkeeping, expense categorization, profit tracking, and tax estimates. Invoke for any business financial management, accounting, or tax-related tasks.
---

# Financial Management for Support Forge LLC

Track and manage business finances for Support Forge.

## Business Information

```
SUPPORT FORGE LLC
166 Wilson St
Haverhill, MA 01832

EIN: 41-3821756
Formation: January 2026
State: Massachusetts
Type: Single-Member LLC (Member-Managed)
Fiscal Year End: December 31

Owner: John {YOUR_NAME}
```

## Bank Accounts

### Business Account (To Be Opened)
```
Bank: Mercury (Recommended) or Chase
Account Type: Business Checking
Purpose: All business transactions

Setup Status: Pending
Next Step: Open account with EIN
```

### Current Payment Methods
```
ACH/Bank Transfer:
  Account: 8252968985
  Routing: 211370545

Zelle: {YOUR_EMAIL}
Venmo: {YOUR_EMAIL}
```

## Income Tracking

### Revenue Log Template
```
REVENUE LOG - [MONTH YEAR]
==========================

| Date | Client | Description | Invoice # | Amount | Status |
|------|--------|-------------|-----------|--------|--------|
| | | | | | |
| | | | | | |

MONTHLY TOTAL: $0.00
YTD TOTAL: $0.00
```

### Revenue Categories
- **Consulting** - Hourly consulting work
- **AI Enablement** - Claude Code setup packages
- **Web Development** - Website projects
- **Maintenance** - Ongoing site maintenance
- **Training** - Training sessions
- **Retainer** - Monthly retainer agreements

## Expense Tracking

### Expense Log Template
```
EXPENSE LOG - [MONTH YEAR]
==========================

| Date | Vendor | Description | Category | Amount | Receipt |
|------|--------|-------------|----------|--------|---------|
| | | | | | □ |
| | | | | | □ |

MONTHLY TOTAL: $0.00
```

### Expense Categories (Tax Deductible)

**Software & Subscriptions**
- Anthropic API (Claude)
- OpenAI API
- GitHub
- Domain registrations
- Hosting services (AWS, Vercel)
- Design tools (Canva Pro)
- Productivity tools

**Professional Services**
- Accounting/bookkeeping
- Legal services
- Business insurance

**Office & Equipment**
- Computer equipment
- Office supplies
- Internet (business portion)
- Phone (business portion)

**Marketing & Advertising**
- Website costs
- Advertising
- Business cards
- Marketing materials

**Travel & Meals**
- Client meetings (meals 50% deductible)
- Business travel
- Mileage (if applicable)

**Education & Training**
- Courses and certifications
- Books and resources
- Conference attendance

**Business Operations**
- Bank fees
- Payment processing fees
- Business licenses
- LLC filing fees ($520 MA)
- Annual report ($500 MA)

## Monthly Financial Review

### Checklist
```
MONTHLY REVIEW - [MONTH]
========================

□ Reconcile all transactions
□ Categorize expenses
□ Record all revenue
□ Save/organize receipts
□ Calculate profit/loss
□ Update YTD totals
□ Review upcoming expenses
□ Set aside tax estimate

SUMMARY
-------
Revenue: $______
Expenses: $______
Net Profit: $______
Tax Set-Aside (25%): $______
```

### Profit & Loss Template
```
PROFIT & LOSS STATEMENT
=======================
Period: [Month/Quarter/Year]

REVENUE
-------
Consulting Services      $______
AI Enablement Packages   $______
Web Development          $______
Maintenance/Retainers    $______
Other Income             $______
                         -------
TOTAL REVENUE            $______

EXPENSES
--------
Software & Subscriptions $______
Professional Services    $______
Office & Equipment       $______
Marketing                $______
Travel & Meals           $______
Education                $______
Business Operations      $______
                         -------
TOTAL EXPENSES           $______

                         =======
NET PROFIT               $______
```

## Tax Obligations

### Federal Taxes (Single-Member LLC)
- LLC is "pass-through" entity
- Report on personal tax return (Schedule C)
- Self-employment tax: 15.3% on net profit
- Income tax: Based on total income and bracket
- **Estimated taxes due**: April 15, June 15, Sept 15, Jan 15

### Massachusetts Taxes
- No separate LLC tax for single-member
- Report on personal MA return
- MA income tax rate: 5% flat

### Quarterly Estimated Tax

**Set aside 25-30% of net profit for taxes**

```
QUARTERLY TAX ESTIMATE
======================
Quarter: Q[X] [Year]

Net Profit This Quarter: $______
Estimated Tax Rate: 25-30%
Amount to Set Aside: $______

Federal (Form 1040-ES): $______
MA (Form 1-ES): $______
```

### Tax Calendar
```
2026 TAX DEADLINES
==================
Jan 15, 2026 - Q4 2025 estimated taxes
Apr 15, 2026 - Q1 2026 estimated + 2025 return
Jun 15, 2026 - Q2 2026 estimated taxes
Sep 15, 2026 - Q3 2026 estimated taxes
Jan 15, 2027 - Q4 2026 estimated taxes
```

### Deduction Tracking
```
DEDUCTION TRACKER - [YEAR]
==========================

Category                 YTD Amount
----------------------------------------
Software/Subscriptions   $______
Professional Services    $______
Office/Equipment         $______
Marketing               $______
Travel/Meals (50%)      $______
Education               $______
Home Office (if applicable) $______
Business Operations     $______
----------------------------------------
TOTAL DEDUCTIONS        $______
```

## Receipt Management

### Organization System
```
Receipts/
├── 2026/
│   ├── 01-January/
│   ├── 02-February/
│   └── ...
└── Categories/
    ├── Software/
    ├── Equipment/
    └── ...
```

### Receipt Capture
- Take photo immediately
- Save to organized folder
- Note business purpose
- Keep for 7 years

## Financial Goals

### Revenue Targets
```
REVENUE GOALS - 2026
====================

Monthly Target: $______
Quarterly Target: $______
Annual Target: $______

Breakdown:
- Consulting: $______/month
- Packages: X packages × $______ = $______
- Maintenance: X clients × $______/month = $______
```

### Expense Budget
```
MONTHLY EXPENSE BUDGET
======================

Fixed Costs:
- Software subscriptions: $______
- Hosting: $______
- Insurance: $______
Subtotal Fixed: $______

Variable Costs:
- API usage: ~$______
- Marketing: $______
- Other: $______
Subtotal Variable: $______

TOTAL BUDGET: $______
```

## Tools & Resources

### Free Bookkeeping Tools
- **Wave**: https://www.waveapps.com (free accounting)
- **Zoho Invoice**: https://www.zoho.com/invoice (free invoicing)
- **Google Sheets**: Simple tracking spreadsheets

### Recommended Setup
1. **Mercury** - Business banking (free, great for startups)
2. **Wave** - Free bookkeeping and invoicing
3. **Google Drive** - Receipt storage
4. **Google Sheets** - Custom tracking

### When to Get Help
- Revenue exceeds $50K/year → Consider accountant
- Complex deductions → Tax professional
- Multiple states → Tax professional
- Hiring employees → Payroll service + accountant

## MA LLC Compliance

### Annual Requirements
```
□ Annual Report - Due on anniversary of formation
  Fee: $500
  File at: sec.state.ma.us

□ Keep registered agent current
  Current: John {YOUR_NAME}
  Address: 166 Wilson St, Haverhill, MA 01832

□ Maintain LLC records
  - Operating agreement
  - Meeting minutes (if any)
  - Financial records
```

## Quick Commands

**"Log expense [amount] for [category] at [vendor]"**
→ Add to expense log

**"Log revenue [amount] from [client]"**
→ Add to revenue log

**"Monthly financial summary"**
→ Generate P&L for current month

**"Tax estimate for [quarter]"**
→ Calculate quarterly tax set-aside

**"Expense report for [category/month]"**
→ Generate expense breakdown